Limp Bizkit Sprints to Finish 'Stampede,' Explains Album Title and DJ Lethal Split

May 13, 2013 3:15 PM EDT

Scott Legato/Getty Images Wes Borland of Limp Bizkit performs at Saint Andrews Hall on May 11, 2013 in Detroit, Michigan.

Limp Bizkit is sprinting forward on work for its upcoming album, "Stampede of the Disco Elephants," and guitarist Wes Borland predicts an August finish followed by a hoped-for September release.

"We're really trying to get it hammered out here," Borland tells Billboard about the group's first album under its new association with Cash Money Records. "We're done with most of the music, pretty much all the music. I've mixed two songs and have a lot more mixing to do. The lyrics and vocals are probably 30 percent done, and (frontman Fred Durst) is working as we speak, on tour."

Borland describes the sound of the album as "a little more pressure-free and a little more fun. I think it's a little bit more sort of playful, taking chances, a little less pop structured type of stuff. I don't want to say it (sounds) younger, but maybe a little more carefree, musically, to where we don't over-think what we're doing. We're leaving mistakes in and going, 'Oh, that sounds great, leave that in.' That's sort of the thinking instead of polishing too much or trying to stay within the parameters of a formula."

Borland says the album also "sounds very live and sort of wild. That's the sound we're going for on the entire album."

Limp Bizkit has already released two songs from the album, "Ready To Go" with Lil Wayne" and "Lightz (City of Angels)." Borland says original Bizkit producer Ross Robinson worked on "a little bit" of the album, along with Cash Money's Detail, but, the guitarist says, it's primarily "a do-it-yourself affair." Some guests "would definitely be cool" but won't be decided upon until after Durst is finished with his vocals.

As for the album, title, Borland says it's "just from being stupid. I think we saw a disco ball elephant in the window of a shop somewhere. We were like, 'Look, it's a disco elephant. We should call our record 'Stampede of the Disco Elephants.' It's just a 10-second conversation that snowballed."

Limp Bizkit is touring the U.S. through June 2, then heads over to Europe for seven June festival appearances. At this juncture, DJ Lethal remains out of the band, though Borland says the door, while closed, is not necessarily locked.

"He's been in and out and in and out," Borland notes. "I know what he wants to do but don't know what he would do if he came back into the band. He's kind of all over the place, and I don't know if he wants to be in the band. When we had him back, nothing materialized as far as material coming out of him to add to the record. We're talking to him. We've opened up dialogue back with him recently, and we'll see what happens."